In These New Times

A new paradigm for a post-imperial world

UK’s financial services sector will retain its passporting rights despite Brexit, Boris Johnson says

Posted by seumasach on July 23, 2016

Johnson’s “everything will remain the same despite Brexit” argument reflects either that he is completely delusional or that he is strongly hinting that Brexit is not going to happen at all. Regarding passporting rights, that will be in the hands of the Europeans and it is no secret that Paris and Frankfurt are vying to succeed London as Europe’s financial sector. His assurances lack all credibility and reflect the bizarre post-Brexit limbo into which we have been cast. Meanwhile, as the incoming capital flows on which we are dependent dry up, the perspectives for the UK economy and living standards are dire in the extreme.

IBTimes

23rd July, 2016

London will remain a global financial centre, according to Boris Johnson, the UK’s newly appointed foreign secretary. Speaking at the United Nations in New York, Johnson dismissed fears over the country’s financial services sectors losing its passporting rights amid the Brexit vote.

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